Organisations that prioritise cyber security are more likely to experience growth and financial success, according to results from a recent Blue Coat research.
The research revealed a clear link between financial performance and the ability to cope with growing cyber threats, with 93% of respondents who saw more than 20% revenue growth citing IT security as a key to their success.
Blue Coat’s research, which surveyed 1580 respondents across 11 countries, found that organisations that make cyber security a priority are better prepared to make important, yet risky, business decisions.
While most of those surveyed believed their organisations encouraged risk taking and new ideas, approaches to IT security varied by country.
Risk-taking was viewed as having a positive impact on business performance by 66% globally, although numbers in Europe were lower with just 54% in Germany and France; however, in the UK, those viewing risk-taking as positive was just 44%.
The research also revealed that concerns about IT security and risk are holding back the potential of many organisations according to 62% of respondents in the UK, 52% of Germany and, interestingly, just 36% of French respondents thought these concerns prevented them from testing new ideas.
Robert Arandjelovic, EMEA director of products at Blue Coat, commented, "Businesses instinctively know success comes from risk taking, but today IT security often holds many back.
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"This research shows those who make the investment in IT security thrive, while those who do not fall behind. Blue Coat’s goal is to help businesses analyse risks and make those decisions that help them grow."
Despite the clear correlation between businesses that invested heavily in IT and revenue growth, there is a wide range of responses when it comes to practical measures that help mitigate the risks carried by new technology.
Only 52% of organisations interviewed conducted risk analysis before adopting new applications. Risk analysis amongst European respondents to this survey varied. In the UK, 59% of people carried out risk analysis, compared to 41% for France and 37% in Germany.
Arandjelovic continued, "Managing the balance between risk and financial performance is a key to business success. Blue Coat technology helps companies to develop accurate risk analysis so they can make the right decisions, weigh their risks accurately and stand to gain the most."
